Pakistan Government Archives - Page 2 of 5 - Cars,Bikes Specs & Auto parts - Find Car Prices, News Blogs & Reviews

May 22, 2023 / By Zunair Tahir / Pakistan News

Imran Khan, a former Pakistani prime minister, claimed that the ruling coalition’s desire to banish him from politics is a result of their concern over losing the general elections scheduled for 2019.

Imran Khan, the leader of the Pakistan Tehreek-e-Insaf (PTI), has said that he may be detained once more when he appears in court in Islamabad on Tuesday this week to participate in the investigation into the Al Qadir trust issue, according to ARY News on Sunday.

Additionally, he said that former Pakistan Army Chief Qamar Javed Bajwa was trying to topple his administration and that he didn’t understand why.

Imran Khan on his court appearance: “There’s 80% Chances I’ll be arrested.”

Imran Khan, the leader of the Pakistan Tehreek-e-Insaf (PTI), has warned that he may be detained once more when he appears in court in Islamabad on Tuesday this week to assist with the investigation into the Al Qadir trust issue, according to ARY News on Sunday.
Imran Khan, a former Pakistani prime minister, claimed that the ruling coalition’s desire to banish him from politics is a result of their concern over losing the general elections scheduled for 2019.

There are 80% possibilities that I would be arrested when I go in court in Islamabad on Tuesday for a number of bails, the former prime minister stated in an interview with international media, according to ARY News.

The PTI leader mentioned his party’s purge, saying that over 10,000 employees, including top leadership and women, had been detained.

According to Dawn, the Chief of Pakistan Tehreek-e-Insaf (PTI) informed the National Accountability Bureau (NAB) on Saturday that he may join the investigation into the Al Qadir Trust Case the following week. Khan stated that he can show up on Tuesday at 11 AM for the case’s inquiry.

In his answer to the anti-graft watchdog’s call-up notice, Imran pleaded with the NAB to confirm the previously indicated time for him to join the probe.

Imran Khan, the PTI chairman, was recently taken into custody by Rangers from the Islamabad High Court (IHC) in the Al-Qadir Trust case. Imran Khan is out on bail till June 2. Workers for the PTI staged demonstrations following Khan’s detention in a number of cities throughout the nation, including Islamabad, Rawalpindi, Lahore, Karachi, Gujranwala, Faisalabad, Multan, Peshawar, and Mardan.

Imran Khan’s pre-arrest bail in three counts brought against him following his detention on May 9 was allowed by a counterterrorism court in Lahore on Friday.

A NAB investigation into a settlement between the PTI government and a property tycoon, which is said to have resulted in a loss of 190 million pounds to the national exchequer, is purportedly including Imran Khan, his wife Bushra Bibi, and other PTI leaders, according to Geo News.

Khan and the other defendants are accused of adjusting money supplied to the government at the time by the National Crime Agency (NCA) of Britain, according to the allegations, according to Geo News.

Search

PM Says That All Conditions Have Been Fulfilled, But IMF Wants “More Guarantees”

April 16, 2023 / By Zunair Tahir / Pakistan News

The International Monetary Fund (IMF) has no reason to put off approving the staff-level agreement after receiving financial guarantees from allies, according to Prime Minister Shehbaz Sharif on Saturday. However, a Fund official said the lender was looking forward to receiving “necessary financing assurances” as soon as possible to clear the way for the conclusion of the ninth review of the $7 billion program.

IMF Mission Chief to Pakistan Nathan Porter made the announcement a day after Finance Minister Ishaq Dar confirmed $1 billion in bilateral financial help for Pakistan, which is thought to be the last preparatory action for staff-level agreement with the international lender.

PM Shehbaz remarked, “The IMF had set a condition for us to arrange funds from friendly countries before it signed a staff-level agreement with us,” while speaking at an event in Lahore. We worked hard for one and a half months to achieve the IMF’s final need by first getting a rollover of $2 billion from China and then $3 billion from Saudi Arabia and the UAE.

The premier complimented Bilawal Bhutto-Zardari and Ishaq Dar for their “hard work” in this respect and stated that “the new army chief made efforts to acquire the funds from Saudi Arabia and the UAE.”

He expressed the resolve to overcome these obstacles by reaching an agreement with the international lender as quickly as possible, despite the fact that his administration “inherited an IMF agreement that was in tatters.” There was “no alternative,” he said, therefore the government had to accept the strict requirements established by the IMF.

The Fund, meantime, praised Pakistan’s receipt of bilateral aid but pressed Islamabad for more guarantees to finalise the agreement.

The agreement to retain strong policies and find adequate funding to assist the implementation efforts was reached during talks between the Pakistani delegation and IMF employees and management, the statement added.

In contrast to an earlier government declaration that the pledge of $2 billion from Saudi Arabia and $1 billion from the UAE would address the issue, an official source noted that the Fund is still waiting for assurances from friendly nations. In addition, Mr. Dar said that the State Bank had received the final payment of $300 million from the Industrial and Commercial Bank of China on its $1.3 billion loan.

Kristalina Georgieva, the chief of the IMF, had hoped Pakistan would finish its current plan.

Finance Minister Senator Mohammad Ishaq Dar held a meeting with Mr. Jin Liqun, President Asian Infrastructure and Investment Bank (AIIB) virtually through video link from Islamabad as part of the IMF/World Bank Spring meetings 2023, (1/2)… pic.twitter.com/8lHdLXnsXJ
— Ministry of Finance (@FinMinistryPak) April 15, 2023

At a news conference in Washington, she stated, “My hope is that with the goodwill of everyone and with the implementation of what has already been agreed upon by the Pakistani authorities, we can complete our current program successfully.”

Separately, as part of the IMF/World Bank spring meetings, Mr. Dar conducted a virtual discussion with Jin Liqu, the president of the Asian Infrastructure and Investment Bank (AIIB), through a video link.

According to a formal statement, Mr. Dar informed the AIIB president on the government’s economic objectives and reforms for sustainable development while also sharing the present economic prognosis.

According to the release, the AIIB president praised the bank’s partnership with Pakistan.

Search

Interbank Rupee Declines By Almost Rs19 versus The Dollar Due To IMF Delays

March 3, 2023 / By Zunair Tahir / Pakistan News

On the interbank market on Thursday, the Pakistani rupee plunged drastically by Rs18.74 versus the dollar, reaching a record high of Rs284.85 in morning trade, according to information provided by the Exchange Companies Association of Pakistan (Ecap).

Experts blamed the government’s standoff with the International Monetary Fund for the record loss, which is 7.04 percent (IMF).

According to SBP statistics, the PKR closed Wednesday at Rs266.11 per USD.

Interbank closing #ExchangeRate for todayhttps://t.co/yixJmUnrgF pic.twitter.com/PWg8EoDAgM
— SBP (@StateBank_Pak) March 1, 2023

“Uncertainty resulting from IMF financing delay”
According to Mohammed Sohail, chief executive of Topline Securities, who spoke to Dawn.com, the recent decline was mostly brought on by a lack of confidence in the currency market due to the IMF’s delayed financing.

The “crackdowns on currency merely reinforced the grey market”
According to Zafar Paracha, secretary general of the Exchange Companies Association of Pakistan (ECAP), Pakistan was urged by the IMF to exchange dollars at the going rate for commerce with Afghanistan.

In other words, they had stated that rather than the interbank rate or the open market, our true rate should be the grey market rate. They are correct since the only location where trading in dollars now occurs is on the black market, he continued.

He claimed that because of limitations put in place by the government on foreign exchange, trading moved to the black market.

The numerous limitations they have placed on foreign exchange businesses regarding the buying and selling of the dollar, he claimed, prevent the currency from rising or falling.

He said that despite government crackdowns [on the grey market], this is still the case. Asserting that carrying out crackdowns would not assist, Paracha urged for a revision of the policies.

“Unintentionally, our policies have substantially aided the grey market. The IMF is aware of this as well, and has advised us to get our exchange rate between the rupee and the dollar to that level,” he continued.

The currency has been plunging in recent days amid delays in an agreement between Pakistan and the International Monetary Fund, which they have been discussing since early last month.

One of the things the IMF wants Pakistan to do is switch to a market-based currency exchange rate system. If the IMF’s board approves this measure, a financing tranche of over $1 billion that has been held up since late last year over a policy framework will be released.

The lender’s requirements are designed to make sure Pakistan reduces its fiscal deficit before presenting its annual budget in June.

But, the budgetary changes required by any agreement are expected to increase the already record-high inflation rate, which reached 31.5 percent in February.

The IMF has also asked Pakistan to increase policy rates and fulfil bilateral and multilateral external funding obligations.

China, Pakistan’s longtime friend, is the only nation to have refinanced $700 million to Islamabad.

At an off-cycle meeting on Thursday, the Pakistani central bank is generally anticipated to increase its benchmark policy rate by 200 basis points, according to a Reuters poll.

Search

Government Permits ‘Sky High’ Increase In Gasoline Prices

January 30, 2023 / By Zunair Tahir / Pakistan News

Finance Minister Ishaq Dar explains that the price of gasoline and high-speed diesel increased by 35 rupees per litre, that the price of kerosene oil has increased to 189.83 rupees per litre, and that the price of light diesel oil has increased to 187 rupees per liter. He also notes that on the instructions of the Prime Minister, the price of gasoline remained unchanged for the previous four months.

Due to an increase in the price of oil on the worldwide market and the devaluation of the Pakistani rupee against the US dollar, the government has increased the price of gasoline and high-speed diesel (HSD) by Rs 35/liter each.

PRODUCT	NEW PRICES
Petrol	PKR 249.80
High Speed Diesel (HSD)	PKR 262.80
Light Diesel Oil (LDO)	PKR 187.00
Kerosene Oil	PKR 189.83

Ishaq Dar, the federal minister of finance, announced a hike in the price of all petroleum products, including gasoline, high-sulfur diesel, kerosene, and light diesel oil, in a brief televised address on Sunday morning (LDO). The price of gasoline and diesel would rise by 35 rupees per liter, the minister announced. He announced an increase of Rs 18 per liter in the price of light fuel and kerosene.

High speed diesel now costs Rs 262.80 per liter as opposed to Rs 227.80 per liter before the hike. From an early price of Rs 214.80/liter, the price of motor spirit/petrol reached a record high of Rs 249.80/liter. Kerosene oil’s price has increased from Rs. 171.83/liter to Rs. 189.83/liter. Light diesel oil now costs Rs 187 per liter as opposed to Rs 169 per liter.

Ishaq Dar recalled that the price of gasoline did not increase during the previous four months, from October to January 29. He also said that kerosene and diesel costs have been reduced.

Last week, the Pakistani rupee lost about 12 percent of its value versus the US dollar, while oil prices rose 11 percent globally. On the instructions of Prime Minister Shehbaz Sharif, it has been agreed to make a modest rise in the pricing of petroleum products notwithstanding international prices and currency depreciation, the finance minister stated. Dar stated that the hike is being implemented right away after the oil and gas regulatory authority’s proposal (OGRA).

OGRA claims that there have been complaints of false shortages and gasoline stockpiling in anticipation of price increases; as a result, this price increase is being implemented right away to address the artificial scarcity, the official stated. By 11 a.m., the revised pricing would go into effect in the following two to three minutes, according to Dar.
The minister anticipated that announcing increased pricing would put an end to rumor’s that gasoline supplies were running low. Due to the nation’s oil scarcity, the administration decided to modify fuel prices three days before the revision was supposed to take place on January 31.

Petrol stations all around the country stopped selling fuel on Saturday as a result of rumours that the price of gasoline and HSD will increase by up to Rs80 per litre. Rumors of a significant increase in oil prices for the upcoming two weeks led to stockpiling at gas stations and the artificial closure of more than 80% of gas stations in various parts of the nation.

According to a government source, the government computed the price of oil using oil prices up until October 27 and the average rupee conversion rate of Rs 236 per dollar.

The revised pricing are valid through February 15, 2023.

Fiscal restraint is necessary for the nation’s development and can only be achieved when democracy is stabilised, according to Finance Minister Ishaq Dar, who earlier made this statement at the conclusion of the two-day Bacha Khan Conference.

He stated that we need to stop depending on foreign help. He said that the late Bacha Khan had advocated for using native resources rather than ones that were imported.

Senator Yusuf Raza Gillani, a former prime minister and the head of the Pakistan People’s Party, had before urged adherence to the Constitution to uphold the rule of law and enhance democracy in the nation.

Search

The Government’s Cheap E-Bike Program: Everything You Need To Know

January 9, 2023 / By Zunair Tahir / Automotive News

In an effort to save energy and cut carbon emissions, the federal government has developed a plan to produce 100,000 e-bikes in the next 18 months.

The Economic Coordination Committee (ECC) is now assessing the program before it is implemented because the plan has not yet been put into action.

The Ministry of Industries and Manufacturing (MoIP) would guarantee the production of at least 100,000 e-bikes in the first 18 months, according to the papers made available to allaboutcars.

To promote the purchase of e-bikes, which are often more expensive than cycles fueled by gasoline, it has proposed Rs. 17.5 billion in subsidies.

According to the initiative, the buyer would pay Rs. 10,000 and the government would contribute Rs. 90,000 toward a down payment for an e-bike with an estimated cost of Rs. 170,000, making a total first payment of Rs. 100,000.

For a commercial loan of Rs. 70,000, the bank will charge an interest rate of Kibor+2 or 19%, or around Rs. 13,300.

The consumer will pay Rs. 4,310 each month under the proposed programme, which is made up of Rs. 2,917 in principal, Rs. 1,109 in interest, and Rs. 284 or 2% in insurance, for a 24-month payment plan offered by the government.

The ministry expects to produce and sell 15,000 e-bikes in the current fiscal year 2022–2023, 60,000 and 100,000 e-bikes in the next budget years 2023–2024, and 100,000 e-bikes in the following fiscal year 2024–2025, for a total of 175,000 e-bikes produced in three years.

The following people can use the e-bike program:

students whose parents are employed.
20% quota for female employees and students.
(1% quota) Transgender people.
workers in the government.
salaried or self-employed persons in the private sector who have NTNs and bank accounts.
pensions from the government and armed forces.
Imam-e-Masjid, Hafiz-e-Quran, and Muazzins who possess the necessary qualifications from a facility approved by the Ministry of Religious Affairs and recognized by the Pakistani government.

The government and customers both contribute Rs. 100,000 to the subsidized leasing scheme, while banks lend Rs. 70,000 with a 50% credit guarantee from the government. The government would probably introduce this scheme in Islamabad, Peshawar, Quetta, Lahore, and Karachi, according to a media source.

Search

Parvez Elahi Is Reinstated By LHC As Punjab’s Chief Executive

December 24, 2022 / By Zunair Tahir / Pakistan News

The Punjab Chief Minister Chaudhry Parvez Elahi has been reinstated by the Lahore High Court (LHC).

The five-member bigger bench also reinstated the Provincial Cabinet after hearing Chaudhry Parvez Elahi’s plea against the de-notification of his appointment as Chief Minister by the Governor of the Punjab on Friday in Lahore.

The Punjab Governor, Attorney General, and others received notifications from the Honorable Court for the upcoming hearing on the 11th of the next month.

An affidavit sworn by Chaudhry Parvez Elahi was earlier given at the court by his attorney, Barrister Ali Zafar, stating that the Punjab Assembly would not be dissolved until the next hearing if the Governor’s notice was stayed.

Search

Punjab Government Of Pakistan Dismissed, A Setback For Ex-PM Khan’s Desire For Early Elections

December 24, 2022 / By Zunair Tahir / Pakistan News

Pakistan’s LAHORE – Imran Khan’s ambitions to compel early elections in the South Asian country suffered a setback on Friday when a major supporter of the former premier was dismissed from his position as chief minister of the nation’s largest province.

The action will exacerbate Pakistan’s already acute balance of payment crisis and economic collapse.

Khan’s rival Prime Minister Shehbaz Sharif appointed Punjab Governor Muhammad Baligh-ur-Rehman, who on Friday ordered the resignation of Chaudhry Pervaiz Elahi.

PM Shehbaz Urges The Energy Industry To Take Action To Decrease Circular Debt

December 20, 2022 / By Zunair Tahir / Business News

The decision to limit market hours to 8 p.m. on Monday was made by Prime Minister Shehbaz Sharif in order to conserve energy. He also instructed the relevant agencies to take action.

Participants at a meeting on the energy sector, presided over by the prime minister, discussed adopting a comprehensive plan to handle the current circular debt in the oil and gas industries.

The Pakistan Muslim League-Nawaz (PML-N) administration, according to the Prime Minister’s Office (PMO), declared had totally eliminated the circular debt during its 2013–2018 term in office. He promised to use consistent efforts and smart planning to get the debt issue under control.

PM Sharif gave the order to implement energy sector reforms in such a way that the circular debt could be paid off.

The prime minister was cited as stating that Sui gas distribution firms should enhance their bill-recovery procedures and that users of gas and electricity should not be subjected to any additional costs.

To preserve power and gas, Shehbaz orders all marketplaces in Pakistan to close at 8 p.m.

He stated that it was important to make the mechanism for paying gas and electricity bills efficient.

The federal cabinet will receive an overview of the energy-saving strategy on Tuesday during the meeting.

To get their input on the matter, the chief ministers of the provinces have also been called to the cabinet meeting.

According to the prime minister, it is important to combat gas and power theft and losses in the energy transmission system.

According to media sources citing the electricity division, the circular debt, which was Rs2.253 trillion by the end of September last year, has increased by Rs185 billion to reach Rs2.437 trillion.

The government has decided to limit market hours nationwide till 8pm in an effort to save gas and power.

According to a government source, the federal cabinet will convene on Tuesday to discuss the execution of an energy conservation plan, which is the only item on the agenda.

The plan to save energy, according to the source, was developed to stabilize the economy, save energy, and reduce import costs since the country was in an unusual position that called for extraordinary action.

All provincial governments were requested to do their homework about an energy conservation strategy, including market closing times till 8 o’clock, at the most recent meeting.

The proposal will be presented at the upcoming cabinet meeting for final approval, and all chief ministers will be called so that it can be put into action in conjunction with provincial governments, according to information minister Marriyum Aurangzeb.

The proposal calls for a crackdown on electricity theft and the conversion of several public and private structures to solar power.

The emergency energy saving plan’s primary goal is to relieve pressure on individuals and the economy as a result of the ongoing increase in oil and gas prices on the international market.

Dr. Talha Muhammad Younis Al Kashmiri has been named the PM’s coordinator for Arab digital media, and Mr. Waqas Mehmood has been named the PM’s coordinator for digital media, according to Prime Minister Shehbaz Sharif.

The prime minister made both of the positions on an honorary basis.

Search

Provincial Government To Prevent Unjustified Profiteering: Ahsan Iqbal

September 29, 2022 / By Zunair Tahir / Pakistan News

Today in Islamabad, Professor Ahsan Iqbal, Minister for Planning, Development, and Special Initiatives, presided over a National Price Control and Monitoring Meeting to evaluate the progress of the decisions made at the previous NPMC meeting.

There were officials from the Ministry of Finance, line ministries, the FBR, the Trading Corporation of Pakistan, the Utility Stores Corporation of Pakistan, PASSCO, and the Chief Economist, Dr. Nadeem Javaid.

ALSO READ: Inauguration Of Ishaq Dar As New Finance Minister

The Minister evaluated the actions taken by the respective departments and the resultant impact on the trend in pricing of basic products in light of the recent floods that caused damage to staple food commodities like wheat, potatoes, tomatoes, and other crops.

Sensitive Price Index Report was presented by the Pakistan Bureau of Statistics (PBS) (SPI). According to reports, production of ten necessities—including power, tomatoes, LPG cylinders, bananas, garlic, pulse masoor, and cooking oil—has decreased during the last week.

Wheat was included in the report on commodities with rising prices. The estimate comprising 17 cities and derived from various provinces was also considered at the conference.

It should be mentioned that the Sensitive Price Index (SPI) is calculated on a weekly basis in order to examine the country’s price situation and gauge how vital commodities are changing in price over shorter time periods.

The Pakistani Competition Commission gave an analytical study on the nationwide profiteering phenomenon. The Minister gave the order to dissuade shops from making excessive profits and to implement real solutions in this regard.

Inauguration Of Ishaq Dar As New Finance Minister

September 28, 2022 / By Zunair Tahir / Pakistan News

**On September 28, 2022, Ishaq Dar of the PML-N swears in as the next finance minister.**

Ishaq Dar, a prominent member of the Pakistan Muslim League-Nawaz (PML-N), was sworn in as the nation’s new finance minister on Wednesday.

At the Aiwan-i-Sadr, the oath was delivered by President Dr. Arif Alvi. At the oath-taking event, attendees included Interior Minister Rana Sanaullah and Prime Minister Shehbaz Sharif.

ALSO READ: In Pakistan, Petrol Prices May Decrease By Rs.5 & Diesel Prices By Rs.15

“To bear genuine faith and devotion to Pakistan,” Dar said at the event. “To fulfil its responsibilities honestly to the best of its capacity and truthfully in line with the Constitution of the Islamic Republic of Pakistan and the law.”

“I shall work to protect the Islamic ideology that served as Pakistan’s foundation. The new minister recited the words of the oath while reading it. “That I will not permit my personal interests to affect my official behaviour or my official choices,” he stated.

The action was taken when Miftah Ismail, a former finance minister, resigned from his position to make room for the PML-N senator.

Following a crucial party conference presided over by party leader and former prime minister Nawaz Sharif in London, the choice to choose Dar as the next finance czar was decided. Sen. sworn into office

Ishaq Dar took the oath of office as a senator on Tuesday amidst protests from Pakistan Tehreek-e-Insaf (PTI) MPs.

Dar took the oath of office from Senate Chairman Sadiq Sanjrani after returning to Pakistan earlier in the day after nearly five years in the UK on a “medical leave.”

While on trial for corruption in 2017, the PML-N leader had fled the nation.

Leaders of the PML-N greeted him by thudding their desks as he walked into the Senate hall.

However, PTI senators gathered around the chairman’s rostrum when he was taking the oath of office and yelled things like “absconder.”

Search

Imran Khan On His Next Court Appearance”80% Chances That I Will Be Arrested”

Imran Khan On His Next Court Appearance”80% Chances That I Will Be Arrested”

READ MORE NEWS…

PM Says That All Conditions Have Been Fulfilled, But IMF Wants “More Guarantees”

PM Says That All Conditions Have Been Fulfilled, But IMF Wants “More Guarantees”

READ MORE NEWS…

Interbank Rupee Declines By Almost Rs19 versus The Dollar Due To IMF Delays

Interbank Rupee Declines By Almost Rs19 versus The Dollar Due To IMF Delays

READ MORE NEWS…

Government Permits ‘Sky High’ Increase In Gasoline Prices

Government Permits ‘Sky High’ Increase In Gasoline Prices

READ MORE NEWS…

The Government’s Cheap E-Bike Program: Everything You Need To Know

The Government’s Cheap E-Bike Program: Everything You Need To Know

READ MORE NEWS…

Parvez Elahi Is Reinstated By LHC As Punjab’s Chief Executive

Parvez Elahi Is Reinstated By LHC As Punjab’s Chief Executive

READ MORE NEWS…

Punjab Government Of Pakistan Dismissed, A Setback For Ex-PM Khan’s Desire For Early Elections

Punjab Government Of Pakistan Dismissed, A Setback For Ex-PM Khan’s Desire For Early Elections

READ MORE: PM Shehbaz Urges The Energy Industry To Take Action To Decrease Circular Debt

READ MORE NEWS…

PM Shehbaz Urges The Energy Industry To Take Action To Decrease Circular Debt

PM Shehbaz Urges The Energy Industry To Take Action To Decrease Circular Debt

READ MORE NEWS…

Provincial Government To Prevent Unjustified Profiteering: Ahsan Iqbal

Provincial Government To Prevent Unjustified Profiteering: Ahsan Iqbal

ALSO READ: Inauguration Of Ishaq Dar As New Finance Minister

READ MORE: In Pakistan, Petrol Prices May Decrease By Rs.5 & Diesel Prices By Rs.15

READ MORE NEWS…

Inauguration Of Ishaq Dar As New Finance Minister

Inauguration Of Ishaq Dar As New Finance Minister

ALSO READ: In Pakistan, Petrol Prices May Decrease By Rs.5 & Diesel Prices By Rs.15

READ MORE NEWS…

You Want To Have Your Favorite Car?